China battery maker REPT Battero shines in Hong Kong debut

REPT BATTERO Energy

18/12/2023 03:44

** Shares of Chinese lithium ion battery maker REPT Battero
Energy  0666.HK  up as much as HK$19.66 in Hong Kong debut,
gains 7.4% from IPO price
    ** Stock last traded at HK$18.88 each, still up 3.2% from
IPO price of HK$18.30 apiece 
    ** China dominates global electric vehicle battery supply
chain, with a growing number of the country's major EV makers
also moving into battery production 
    ** REPT, which is backed by world's largest nickel producer 
Tsingshan Holding Group, sold 116.1 mln shares in IPO, raising
HK$2.12 bln ($271.76 mln) for expansion of production capacity,
research and development, and working capital   
    ** REPT's institutional demand was 1.27 times the number of
shares on offer to investors and retail demand was 1.21 times
    ** Hang Seng Tech Index  .HSTECH  and Hang Seng Composite
Index  .HSCI  both fall 1%, while Hang Seng Index  .HIS  slips
0.9%
($1 = 7.8009 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))